U.S. stock futures rose on Monday as Abu Dhabi came to a $10 billion rescue of ailing Dubai, staving off the potential for a default on a key bond that was due to expire Monday.
S&P 500 futures rose 5.7 points to 1,108.90 and Nasdaq 100 futures added 10.5 points to 1,802.50. Futures on the Dow Jones Industrial Average added 49 points.
Strong retail-sales data helped push U.S. stocks higher on Friday, with the Dow Jones Industrial Average rising 65 points and the S&P 500 advancing 4 points, though the Nasdaq Composite retreated marginally. Over the week, the S&P 500 advanced a slender 0.04%.
Bristol Myers Squibb Co. (BMY) today reported that it has named Charles Bancroft, the acting chief financial officer, with effect from January 1, 2009. Charles Bancroft is currently working as the vice president of finance. Bristol Myers Squibb Co. (NYSE:BMY, $25.80, +$0.26, 1.02%) rose 0.78 percent to $26.00 on Monday morning pre-market trading session, even on last week Friday, shares of Bristol Myers climbed 1.02 percent, closed on $25.80.
Central Pacific Financial Corp. (CPF) agreed to a cease-and-desist order with the Federal Deposit Insurance Corp. requiring the Hawaiian company to improve its capital position, asset quality and management oversight, among other conditions. Central Pacific Financial Corp. (NYSE:CPF, $1.16, -$0.02, -1.69%) dropped 27.59 percent to $0.84 on Monday morning pre-market trading session, even on last week Friday, Central Pacific Financial shares were down 1.69 percent, closed on $1.16.
Shares of Visa Inc. (V) climbed in pre-market trade after Standard & Poor’s reported late last week that Visa will become a part of the benchmark S&P 500 Index. Visa will replace Ciena Corp in the index. Visa Inc. (NYSE:V, $81.34, -$0.98, -1.19%) rose 4.33 percent to $84.86 on Monday morning pre-market trading session, while on last week Friday, shares of Visa Inc. fell 1.19 percent and closed on $81.34.
Terra Industries Inc. (TRA) today reported that its board has rejected the last acquisition proposal from CF Industries Holdings, citing that CF Industries continues to undervalue Terra Industries. Terra Industries Inc. (NYSE:TRA, $42.90, -$0.22, -0.51%) dropped 19.00 percent to $34.75 on Monday morning pre-market trading session, even on last week Friday, Terra shares were down 0.51 percent, closed on $42.90.
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